Welcome to 5263 Menemsha Lane, nestled in prestigious Mesa Verde Estates. This exceptional 3137sq. ft. former model home offers 3 bedrooms upstairs and office/den that can be used as a 4th bedroom. Originally designed to impress, this residence continues to deliver its radiant beauty. Offering a perfect blend of style, comfort, and functionality which include AIR CONDITIONING and extensive upgrades, this floor plan is ideal. As you enter the main level you are immediately greeted by stunning hardwood floors that flow beautifully in this open and inviting floor plan. The spacious formal living room and formal dinning room lead the way into the gourmet style kitchen, which serves as the heart of the home. Featuring a breakfast nook area, granite countertops, quality cabinetry, center island with sink, spacious walk in pantry, stainless steel appliances with six burner stove top, dishwasher,built in oven and microwave.Separate formal dining room. The kitchen opens up to the family room that includes a cozy fireplace. Also on the lower level you will enjoy a spacious room that can be used as the 4th bedroom or your private office with custom built in cabinetry. The lower level includes a full bath. Venture upstairs to discover 3 bedrooms with full baths. The primary suite feels like a private retreat, complete with a spacious bathroom, that includes dual sinks, separate tiled shower, soaking bathtub, and well-appointed closet space. While the additional bedrooms have adjoining bathrooms, providing flexibility for your family. Step out onto the balcony and take in the views. Set on a larger lot in a tranquil cul-de-sac, long driveway for parking, two car attached garage, low maintenance front yard. The backyard offers a built-in BBQ grill and plenty of space for trees or your very own garden ideas. Low HOA fees and low solar lease payment. Set within one of the area's most sought-after neighborhoods, residents enjoy a prime location close to top-rated schools, fine dining, shopping, hiking/biking trails, VSFB,freeway and just a short drive to the beach. This is a rare opportunity to own a former model home where quality, design, and location come together effortlessly. This layout is ideal! Don't miss this opportunity! Call to schedule your private viewing today. Some images have virtual staging for visualization.Original photos included. *information deemed reliable but not verified or guaranteed by Broker
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
